Kentucky Committee Lauds Current Pari-Mutuel Tax Rates

The second meeting of the special legislative committee studying pari-mutuel tax rates in the state of Kentucky occurred on Monday, Aug. 9, reports wtvq.com.

Industry representatives praised the current rates on historical horse racing and race wagers in two presentations, one from Elisabeth Jensen, the executive vice president of the Kentucky Equine Education Project (KEEP), and the second from Chauncey Morris, executive director of the Kentucky Thoroughbred Association.

“Kentucky horse racing will remain competitive based on our current tax rates, we believe,” said Morris. “It's taken us 10 years to couple the best horse industry in the world with a more modest form of gaming and the dividends for Kentucky are transformational.”

According to WTVQ, the Pari-Mutuel Wagering Taxation Task Force is scheduled to meet once a month before presenting its findings and recommendations to the Legislation Research Commission (LRC) by Dec. 1, 2021.

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KY Committee Unlikely To Recommend Tax Increase for HHR Machines

A special legislative committee charged with studying the taxes and rates paid by Kentucky racetracks, including the tax rates on profits from Historical Horse Racing (HHR) machines, seems set on recommending the status quo rather than a tax increase. That's good news for the state's racing and breeding industries, which have flourished since HHR machines were introduced in the state some ten years ago.

The Pari-Mutuel Wagering Taxation Task Force met Monday and the meeting turned into something of a cheerleading session for the sport, its economic impact and the advancements it has made since HHR machines were legalized.  A higher tax rate on the HHR machines would no doubt lead to less money being available for racing.

The task force is co-chaired by Senate Majority Floor Leader Damon Thayer, considered one of the more pro-racing lawmakers in the state.

“In this deck, the most important pages are the ones that show the industries that benefit by racing in Kentucky,” Thayer said following a presentation from Elisabeth Jensen, the executive vice president of the Kentucky Equine Education Project (KEEP). “As Elisabeth noted, there are many here, and some you wouldn't think offhand, that are benefitted by the racing industry…One of my favorite graphics is the one that shows how one race horse equals many jobs. We see lots of numbers on a page, paragraphs and power points on a whole host of industries and topics, but this is a pretty compelling page. Look at all the jobs that are provided by one race horse here in Kentucky. That's a very compelling slide.”

The task force was created after the General Assembly passed legislation that formally paved the way for the state's Thoroughbred and harness tracks to offer HHR machines. Senate Bill 120 was needed after the Kentucky Supreme Court voted unanimously that the machines did not represent pari-mutuel wagering and were therefore unconstitutional. After the bill was passed, a coalition led by the Kentucky Center for Economic Policy argued that HHR machines were taxed at a rate that was costing the state an estimated $91 million in annual revenue. The state tax on HHR machines is just 1.5% of total handle, considerably lower than the tax rates on slots and other forms of gaming in other states that have slot machines or slot machine-like games.

HHR machines and the tax rate were mentioned only sparingly by the task force members during the session. Instead, the committee focused on what the money from the machines is used for and how that money has helped not just racing but the state in general. Jensen was one of two individuals to testify. The other was Chauncey Morris, the executive director of the Kentucky Thoroughbred Association (KTA).

“I want to talk to you about the broader impact of the horse industry and its affect on Kentucky's economy and how Historical Horse Racing has already grown that impact and positioned us for even greater growth in the very near future,” Jensen said. “Adopting Senate Bill 120 paved the way for continued significant investment in Kentucky's horse industry, which will lead to new jobs and economic growth in communities all across the commonwealth. Thanks to the success of Historical Horse Racing, Kentucky's horse industry is well positioned to continue strengthening our local communities and their economies through investment in new facilities, increased jobs and the tax revenue to come with it. One of the most important things we have to talk about is the economic impact of Kentucky's horse industry on the entire state.”

Jensen came armed with slides that showed, among other things, that the horse industry in Kentucky is responsible for nearly 80,000 jobs and had an economic impact of $6.5 billion.

Morris painted a similar picture, one where HHR machines had greatly helped the sport, which, in turn, has greatly helped the state.

“Thanks to Kentucky's friendly business environment, we have thrived through major reinvestment in infrastructure for horses and fans,” he said.

This was the second meeting of the task force, which is scheduled to meet once a month before presenting its findings and recommendations to the Kentucky Legislative Research Commission by Dec. 1, 2021.

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Rood & Riddle’s Hats Off Day Offers Free Admission To Kentucky Horse Park On July 31

Presented by Rood & Riddle Equine Hospital, Hats Off Day on Saturday, July 31st celebrates the impact of the horse industry with a day of free admission to the Lexington-based Kentucky Horse Park. Now in its 18th year, Hats Off Day offers family-friendly activities which begin at 3:00 p.m. including horse and pony rides, interactive educational booths, and a Grand Prix show jumping competition. Free hats, provided by area horse farms and businesses will be distributed at the entrance, while supplies last!

Sponsored by Central Bank and other industry leaders, Hats Off Day is the only day of the year that admission to the Kentucky Horse Park is free, and serves as a fundraiser for the Kentucky Equine Adoption Center and the Kentucky Horse Park Foundation. More than $1.11 million has been raised for worthy organizations in Kentucky since the inaugural event in 2003.

“The Kentucky Horse Park provides our state with a beautiful backdrop to learn about Kentucky's signature industry,” said Dr. Tom Riddle, founder of Hats Off Day and co-founder of Rood & Riddle Equine Hospital. “Hats Off Day allows families to get up-close-and-personal with these majestic animals.”

Hats Off Day is delighted to welcome the Kentucky Equine Education Project (KEEP) back as a sponsor. KEEP has been a leader in promoting the horse industry including spearheading the movement this year supporting the preservation of historical horse racing in Kentucky.

Stadium activities on Hats Off Day begin at 6:45 p.m. with a demonstration by Long Run Woodford Hounds and the celebration of the Kentucky Horse Park's Mustang Troop. Additionally, the Rood & Riddle Comeback Award will be presented. This annual award honors an outstanding horse that has experienced a medical condition, was treated by Rood & Riddle veterinarians, and then returned to greatness. Previous winners include Thoroughbred two-time Horse of the Year, Wise Dan; Kentucky Derby winner and two-time Horse of the Year, California Chrome; show jumper, Cyklon 1083; Lexington mounted police horse, Yoder; and Saddlebred World Champion, Tempt Me. The theme of this year's event is “The Beauty of the Show Hunter,” a fitting tribute to the 2021 Rood & Riddle Comeback Award winner, Celtic Fire, a highly successful show hunter.

Beginning at 7:30 p.m., the featured entertainment of the event is the $50,000 Rood & Riddle Kentucky Grand Prix show jumping competition, a 25-year-old tradition that draws internationally known horses and riders.

Hats Off Day is one of the many ways Rood & Riddle supports Kentucky's equine industry. Through veterinary service, educational opportunities and seminars and community support, Rood & Riddle impacts the entire state with initiatives that strengthen the equine industry.

For more information on Hats Off Day, including the event schedule, visit the event's Facebook page: www.facebook.com/hatsoffday.

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Kentucky Equine Education Project Announces 2021 Scholarship Recipients

The Kentucky Equine Education Project Foundation (KEEP), and The Race For Education (RFE) are proud to announce their 2021 scholarship recipients.

The KEEP Foundation board of directors approved over $35,000 in scholarships to 11 students attending 10 universities across the Commonwealth. All of the 2021 scholarship recipients are students currently enrolled with a university or college in Kentucky in an equine and/or agriculture related major.

In addition to these 11 Kentucky students, the Race For Education awarded it's annual Robert J. Frankel Scholarship to 3 New York state students: Reina Ceballos, Joseph Lee and Carlos Lopez. Now in it's 11th year, the Robert J. Frankel Scholarship, in honor of the late Robert (Bobby) J. Frankel, is awarded to a student whose family is employed in the Thoroughbred industry, pursuing any field of study at a college or university in California or New York state. All three Frankel Scholarship recipients, whose parents work in the barns at various tracks in New York, will be attending universities in New York.

“Kentucky is the horse capitol of the world and having the Commonwealth's colleges and universities prepare the next generation of leadership is vital to the horse industry's continued success. KEEP congratulates this year's scholarship awardees and looks forward to the future impact they will have on the industry,” said Elisabeth Jensen, KEEP's Executive Vice President.

2021 Race For Education KEEP Foundation Scholarship
Ambre Azcona – University of Kentucky
Lily Crouch – University of Kentucky
ALeah Gardner – Morehead State University
Harrison Goode – University of Kentucky
Wheaton Hardwick – Kentucky Community & Technical College
Emma Ingalls – Asbury University
Emily James – Midway University
Alina Knore – Morehead State University
Elizabeth Lynch – Midway University
Kaitlyn Praisler – Morehead State University
Ava Simmons – Murray State University

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